Maybe it’s time for us to consider the idea that the usually very rational Buffett is in this case not reasoning at all, but simply emoting. That by adopting the Buffett Rule as the new operating principle of American tax reform, we’re not tapping into the best that his higher brain functions have to offer, but instead taking his own private psycho-drama of paternal conflict and hard coding it into the law of the land.
Once again, billionaire investor Warren Buffett urges his fellow high-on-the-hoggers to pay more in taxes. "Only in Grover Norquist's imagination," says Buffett, do taxes make much of a difference in how people invest. "So let's forget about the rich and ultra-rich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased.
Check out his response to Matt Lauer's question: Would raising taxes on the wealthiest Americans have a chilling effect on hiring in this country?
Since 1986 he has mentioned this single trait 20 times in his annual shareholder letters. He calls it "essential for sustained success."
I'm not saying you should have a portfolio of just two or three holdings. But at the same time, I'm not at all concerned with having a portfolio of dozens of holdings that represent every sector of the market.
The president is barnstorming around the nation hoping to enrage voters at the injustice that the wealthy pay fewer taxes than the middle class. "Now that's wrong," Obama objected, "That's not fair."
I have often asked myself why do so many wealthy people support liberal causes? This is the flip-side of the usual election-year frustration of the liberals with the working classes’ clinging to their guns and religion.
Chris Christie is fed up with Warren Buffet over the tax issue.
Senator Sheldon Whitehouse (D-RI) is set to propose “The Buffett Rule”, a tax increase on everyone making more than a million dollars a year. The law named after Warren Buffett, the second richest person in the world, is also known as the “Paying a Fair Share Act.”
Only a president long shielded from criticism and accountability could make the kind of State of the Union speech President Obama did Tuesday night. It's hard to know where to begin, given his repetition of tired ideas from his previous SOTUs, his taking credit for successful policies he resisted and omitting failed ones he promoted, his numerous misrepresentations on issues big and small, and his glaring refusal to address the main issues that threaten the nation.
First lady Michelle Obama the other day railed at "the few at the top," who do all sorts of bad things. A few months ago, we began hearing of the "1 percent" who are responsible for the current economic mess. "They" apparently make all their money at the expense of the other 99 percent. Are they the same as last year's villains, who had not paid "their fair share" in making over $200,000 in annual income?
Up to 40 million Chinese people still live in caves. That's more than the populations of Texas and Illinois, combined. In fairness, a fraction of these caves are apparently pretty nice, complete with electricity and well-compacted dirt floors. But that's grading on a curve because, well, they're still caves.
According to Berkshire Hathaway's (NYSE: BRK-B) most recent filing, the company just purchased 189,000 more shares of this stock. Buffett and Berkshire already had a 216,000 share stake in the company. With the new purchase, they now own 405,000 shares -- a stake worth roughly $125 million.
Some exciting developments in the Republican presidential race are being ignored by the media. We believe Americans will be excited when they understand the revolutionary nature of these candidate's proposals.
Last week, Newt Gingrich released his 21st Century Contract with America, composed of 10 specific legislative proposals he would enact if elected President. In the 1994 Congressional campaigns, Republicans not only rode Newt's Contract with America proposals to Republican majorities in Congress. They maintained their House majority for 12 years, after Republicans had only held a House majority for 2 of the previous 74 years.
The biggest single obstacle that Obama faces in getting reelected is that Americans don’t trust him anymore. Nor should they, based on results, history and the false premise under which he was elected. Wanna know what Obama’s going to do in the future? Look at what he’s done in the past.
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